Zoe's Kitchen (ZOES) Rating Lowered to Sell at Zacks Investment Research
Zacks Investment Research downgraded shares of Zoe's Kitchen (NYSE:ZOES) from a hold rating to a sell rating in a research report report published on Wednesday.
According to Zacks, “Zoe’s Kitchen Inc. operates as a fast casual restaurant concept serving Mediterranean-style food. The company operates a range of restaurant formats, including in-line, end-cap, and free-standing restaurants. It also grants licenses to qualified franchisees to construct and operate Zoe’s Kitchen restaurants. Zoe’s Kitchen, Inc. is based in Plano, Texas. “
Several other research firms have also weighed in on ZOES. Jefferies Group reiterated a buy rating and issued a $20.00 target price on shares of Zoe's Kitchen in a report on Friday, December 22nd. ValuEngine upgraded shares of Zoe's Kitchen from a sell rating to a hold rating in a report on Tuesday, December 5th. Telsey Advisory Group lowered shares of Zoe's Kitchen from an outperform rating to a market perform rating in a report on Wednesday, January 10th. BidaskClub upgraded shares of Zoe's Kitchen from a strong sell rating to a sell rating in a report on Wednesday, November 15th. Finally, Robert W. Baird reissued a neutral rating and issued a $13.00 price target on shares of Zoe's Kitchen in a research note on Friday, November 10th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the stock. Zoe's Kitchen currently has an average rating of Hold and a consensus price target of $15.06.
Zoe's Kitchen (NYSE:ZOES) last posted its earnings results on Thursday, February 22nd. The restaurant operator reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The company had revenue of $71.38 million for the quarter, compared to analyst estimates of $71.64 million. Zoe's Kitchen had a negative net margin of 0.63% and a negative return on equity of 1.46%. Zoe's Kitchen’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.07) EPS. equities research analysts predict that Zoe's Kitchen will post -0.09 earnings per share for the current fiscal year.
In related news, major shareholder Misada Capital Flagship Fund L purchased 360,000 shares of Zoe's Kitchen stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $15.06 per share, with a total value of $5,421,600.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Tocqueville Asset Management L.P. increased its stake in Zoe's Kitchen by 429.3% during the 4th quarter. Tocqueville Asset Management L.P. now owns 923,400 shares of the restaurant operator’s stock worth $15,439,000 after buying an additional 748,950 shares during the period. Peregrine Capital Management LLC increased its stake in Zoe's Kitchen by 1.6% during the 3rd quarter. Peregrine Capital Management LLC now owns 830,859 shares of the restaurant operator’s stock worth $10,494,000 after buying an additional 13,286 shares during the period. Legion Partners Asset Management LLC increased its stake in Zoe's Kitchen by 46.7% during the 4th quarter. Legion Partners Asset Management LLC now owns 821,672 shares of the restaurant operator’s stock worth $13,738,000 after buying an additional 261,500 shares during the period. State Street Corp increased its stake in Zoe's Kitchen by 8.6% during the 2nd quarter. State Street Corp now owns 353,528 shares of the restaurant operator’s stock worth $4,211,000 after buying an additional 27,851 shares during the period. Finally, Wasatch Advisors Inc. increased its stake in Zoe's Kitchen by 239.0% during the 4th quarter. Wasatch Advisors Inc. now owns 304,669 shares of the restaurant operator’s stock worth $5,094,000 after buying an additional 214,809 shares during the period. 98.48% of the stock is currently owned by hedge funds and other institutional investors.
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Zoe's Kitchen Company Profile
Zoe’s Kitchen, Inc develops and operates fast-casual restaurants serving a menu of fresh, wholesome, Mediterranean-inspired dishes delivered with Southern hospitality. The Company’s menu offers meals made from scratch using produce, proteins and other ingredients, including its appetizers, soups, salads and kabobs.
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